Home Buying

Explore Buydown Mortgages: your key to lower initial rates and a smoother start to homeownership. Learn more

American Financing, renowned for its supportive role in the mortgage lending industry, is a preferred choice for first-time homebuyers. Their consultants offer 6-month credit improvement guidance via the Mortgage Credit Care program and assistance in identifying suitable down payment programs. This dedicated approach to aiding homebuyers and personalized service has resulted in a loyal customer base over their 25 years in business.

Does getting pre-approved for a mortgage hurt your credit score? We discuss what to expect and why pre-approval advantages outweigh any changes to your score.

A cash-back mortgage is a type of home loan where the buyer borrows more than they need for the house. The homeowner typically uses the funds for home improvement.

When it comes to your first mortgage payment, you should know when your bill is due, what your payment options are, and what may happen if you miss a payment.

For buyers between the ages of 22 and 30, the median down payment in 2021 was 6%. More than 80% of the homeowners in this age bracket are first-time homebuyers.

When you apply for first-time homebuyer loans, follow these steps: Gather financial documents, get pre-approved, find the home, and apply for the mortgage.

Popular teacher first-time homebuyer programs include Good Neighbor Next Door and Teacher Next Door. You might also consider an FHA, VA, or USDA mortgage.

Prospective buyers have access to types of loans for first-time homebuyers. Choose between 30-year fixed-rate loans, 30-year ARMs, FHA loans, VA loans, and more.

If you're looking for advice for first-time homebuyers, consider: Planning ahead for closing costs, getting pre-approved, choosing non-negotiables, and more.

In 2022, Rhode Island, Georgia, Pennsylvania, Washington, West Virginia, New York, and Louisiana top our list of best states for first-time homebuyers.

First-time homebuyer building loan options include construction-only loans and construction-to-permanent loans. Work with your lender to decide on financing.

You're considered a first-time homebuyer if you have not owned a house in three years. There are several first-time homebuyer options for single moms and dads.

Some government-backed mortgage options, like VA and USDA loans, have first-time homebuyer no down payment options. Other programs allow as little as 3% down.

The first-time homebuyer down payment is a significant investment. Look into first-time homebuyer assistance programs to help secure your dream home.

First-time homeowner tips can make ownership more pleasant. Our top tips include purchasing insurance, keeping receipts, getting to know neighbors, and more.

The Department of Housing and Urban Development makes it easy to purchase a first house. Here's how to qualify for the HUD homes first-time buyer program.

The Downpayment Toward Equity Act of 2021 is also known as the $25K first-time homebuyer grant. Though not yet available, this is a promising program for new owners.

If you're in the position to purchase a house, it's almost always better to buy than to rent. First-time homebuyer benefits can set you on the path to success.

First-time homebuyer conventional loans are often more accessible than other mortgages. These loans can provide lower costs than some of their counterparts.

Remember that, while income is not the sole influencer for buying a home, it’s still important. You’ll need to show that you can comfortably manage a mortgage payment.

For those who meet FHA first-time homebuyer requirements, benefits - like a low down payment requirement and a competitive interest rate - are available.

A VA home loan offers exceptional benefits. Veterans must meet the requirements for VA first-time homebuyers to be eligible for the program.

The USDA offers mortgages designed to facilitate the purchase of rural properties. Find out if you meet the USDA first-time homebuyer loan requirements.

First-time homebuyer grants help prospective owners save money on down payment and closing costs. Borrowers will not need to repay these funds.

First-time buyers have access to financial tools to help purchase a home. Common first-time homebuyer loan qualifications include not having owned a home in at least three years.

First-time homebuyer incentives help these borrowers invest in real estate. Common incentives include tax credits, grants, and more favorable loan terms.

FHA loans are available for first-time homebuyers. These loans have lower barriers to entry, like a lower credit requirement and an accessible DTI threshold.

First-time homebuyer programs are widely available but tough to research. Connecting with a mortgage specialist can make that process easier - and save you thousands.

Buying a condo can be a solid investment if you find one that checks all of the boxes. That said, not all condos are a good fit. Here are seven red flags to look for as you start your search.

There's a lot of thought that goes into purchasing a home, but especially an older home. Buyers should make sure the advantages outweigh the disadvantages before moving forward with the transaction.

What are 'contingencies' in real estate? Should you consider adding any to the offer you plan to make to a buyer? In this article, we answer your questions and walk you through the different kinds of contingencies and their functions.

Tampa Bay continues to be a popular destination for hopeful buyers. The city offers a healthy economy, affordable housing, and countless things to do for all ages. Learn how to come out on top in this competitive market.

Charlotte, North Carolina ranks as one of the best places to live in the U.S. And even with home prices on the rise, the city remains affordable for many buyers. Learn more about the Charlotte real estate market and what makes it an attractive spot for buyers.

You'll need to spend time interviewing multiple builders if you're interested in a new construction home. See which questions you should ask these people before making your decision.

Current trends indicate that Nashville will be a favorable housing market for years to come. In this article, we take a closer look at the "Music City" and see what's made it a homebuyer's destination. You'll also find tips for making a competitive offer.

A trusted real estate agent can help you ensure a smooth homebuying process. But don't make the mistake of hiring just any realtor. Learn how to choose the right agent for your situation.

It's possible to snag your dream home at a discount when you buy during the holidays. Here's a look at the reasons to purchase a home toward the end of the year, and tips for putting yourself in the best position possible.

Student loans don't have to keep you from becoming a homeowner. That said, you'll want to know what you can do to increase your chances of getting a mortgage if you have student loan debt. Read this article for helpful info. 

Townhouses are ideal for first-time home buyers and those looking to downsize. Here are a few things you should know before considering this type of residence. 

As a recent college graduate, you're likely focused on starting your career. But should you also explore the possibility of homeownership at this age? Check out these tips for young professionals who are interested in buying a home.

A past bankruptcy shouldn't keep you from buying a home. Whether you filed for Chapter 7 or Chapter 13 bankruptcy, you can eventually achieve your homeownership goals. Here's what you should do now to improve your chances of getting a mortgage.

As a Phoenix resident, you're probably tired of watching your rent increase every year. It's time to stop renting and start owning! Here are some tips for buying a home in a hot real estate market such as Phoenix.

There are many benefits of purchasing a home with cash. But does it make sense for you to buy your next place outright as opposed to financing it with a traditional mortgage? Here's what you should know before making an all-cash offer.

Getting a pest inspection before buying a home is a sensible way to protect your investment and your family. Here's what you can expect and what you should look out for.

Debt-to-income ratio is one of the many factors lenders take into account when deciding on a borrower's mortgage qualification. So what do lenders consider a good debt-to-income ratio to buy a house? Learn more about calculating and lowering your DTI.

Buying a house is no small feat, and there are a lot of mistakes to be made with such a big financial commitment. To stay ahead and avoid disappointments, we’ve made a list of common home-buying mistakes that millennials need to avoid.

What does it take to beat an all-cash home offer? We have that answer and more. Check out our six proven tips to beat an all-cash buyer.

Don’t stop at the inspection. Understand additional assessments that can be done to determine if your dream home is safe and worth the investment.

When navigating the mortgage process, it may feel like there are as many loan programs as there are home choices. How do you determine what’s best for you? Let’s take a look at two of the most popular options: conventional home loans and FHA loans.

Your contract often includes additional contingencies or conditional elements (outside of financing) that must be met by a specific deadline for the contract to be fulfilled. If you waive any of these elements, can you save time or money? Let’s review what contingencies are and which should be left untouched.

Your 401(k) may be the greatest asset at your disposal. Believe it or not, it’s something you can use when finding funds for down payment. But is it worth it? That depends on your financial status and goals. 

When buying a home, just how much do you need? Believe it or not, it’s actually more than the listing price, down payment, and closing costs. Don’t forget the not-always-top-of-mind mortgage reserves, which are reviewed during the underwriting process. 

With home values increasing, you may find yourself in need of greater financing to make your homeownership dream come true. That’s where a jumbo loan comes in. Jumbo loans are loans that exceed the Federal Housing Finance Agency (FHFA) limit. If your required loan amount is even $1 over your area’s conforming loan limit, it falls into jumbo loan (or non-conforming loan) status.

Not having enough saved to fulfill a down payment requirement is no longer a reason to postpone homeownership. With help from the Chenoa Fund, you can be looking at as little as zero dollars down payment. 

Freddie Mac’s Home Possible® mortgage program is a great option for first-time homebuyers, millennials, and low- to moderate-income borrowers. Learn why and how it works. Happy home hunting homebuyers!

Ready to take on a rental or investment property? Let us help you understand down payments, interest rates, and loan options for second home financing. 

Qualifying for a home loan can be tricky for your average self-employed borrower. Learn about stated income loans, bank statement loans, and other self-employed mortgage alternatives.

Good credit, stable job, just not much saved for down payment? Fannie Mae can help. Its HomeReady® mortgage program is designed to help more U.S. households get approved for low down payment loans. Here’s what you need to know.

Buying a home in a rural area? Moving to a quaint home that’s secluded from the rushed city lifestyle does sound relaxing. Just be sure to ask your lender about the zero down payment USDA home loan. It may be the perfect home financing option for your country living dreams. Here’s what you should know.

Sometimes it’s easy to pinpoint why your home offer was not accepted. Sometimes it’s not. What’s most important is to learn from the experience and be better prepared for next time. Take a look at these five common reasons why offers are not accepted, so you can be sure to avoid them.

Are you worried it’s too late to take advantage of Austin’s growing equity? Don’t be. The Austin real estate market is still a bargain for buyers as market listings are seeing price cuts and there are fewer bidding wars. Now really is the time to buy a house in Austin.

Buying a home is really expensive. Now is not a good time to buy. These are only a couple of the home buying myths that renters relate to...when maybe they shouldn’t. Move past these eight home buying myths and start seeing just how affordable homeownership is!

With rent prices hitting all-time highs recently, purchasing a home with a good friend might not sound as crazy as it seems. The key is learning all the benefits and downsides before you go home shopping with a buddy.

No matter where you are in your home ownership journey, we can all agree there’s a point of hesitation. There are interest rates to consider, a down payment to make, not to mention the cost of moving. Yet there are also the perks of increasing your wealth and enjoying some advantageous tax breaks. If you're wondering, “is now a good time to buy a home?” — let us help you decide!

Financing and building your dream home is a complicated process. Learn about the different home construction loans that are available for homebuyers, how they work, how to get one, and everything in between!

Though they are often great bargains, short sales can have pitfalls for homebuyers. Don't fall short on short sales! Learn the five obstacles you absolutely need to watch out for when buying a short sale home.

The difference between the market value and what you pay is considered equity, and it can be gifted for a down payment if you're looking to purchase a relative's property. Learn everything you need to know about where to start and how to experience the greatest savings.

A cross-country move can be adventurous, yet at the same time it can be a bit stressful. Calm those nerves with long distance preparation, including these six simple steps.

If you are a teacher looking to buy a home and need help with the financing part, there are home loan programs and grants just for you! Learn the ins and outs of these teacher home buying programs.

Once you’ve made the decision to purchase a home, you’ll need to be prepared to make a down payment. Or maybe not. There are a variety of loan and down payment assistance programs available to borrowers. And believe it or not, some offer the possibility to put zero money down.

FHA loans are a great financing option for many homebuyers, especially first-time homebuyers, to make their homeownership dreams a reality. Learn all there is to know about FHA mortgage requirements and limits.

Purchasing a second home can be a fantastic investment, but only if it makes financial sense and you have the know-how. Learn the basics of financing a second home from the mortgage professionals at American Financing.

Most home buyers work with a real estate agent because they are invaluable when it comes to the home buying process. Learn what to ask and look for in a real estate agent when purchasing your dream home.

Using gifted money towards a mortgage down payment is common nowadays for most home buyers. This gifted money does come with conditions that buyers need to be aware of. Learn about down payment gift rules from the mortgage pros.

Learn how to navigate the Colorado housing market from one of the top lenders in the area. As the housing market fluctuates it's crucial to do your research and find the right mortgage program to finance your home.

The Rose City is a beautiful place to put down roots and call home. Learn how to navigate the Portland housing market, understand your financial options, and get ahead of your home buying competition. Then contact American Financing for your mortgage needs.

Navigate one of the hottest rest estate markets in the country with confidence. Learn how to stay ahead of your competition and get tips on finding your ideal home in Seattle. American Financing provides the market research you need to make a smart investment!

Vacation rental companies have created a whole new industry for people to tap into the multibillion dollar industry of renting an investment home. If a second home purchase has not crossed your mind – it should. Because you could easily make a couple thousand dollars more each month if you list your second home for rent or as a vacation property.

Home improvement projects big and small can have a huge impact on your return on investment. Get the latest information on the top home renovation projects from the experts at American Financing and get the most bang for your buck!

Closing on a house and transferring ownership of a property is an involved process, so expect to set aside a few hours to verify loan documents and sign papers at the closing table. This process can take anywhere from an hour to several hours depending on the complexity of the transfer and who is involved. Here's what you need to know.

Afraid your bad credit score will prevent you from owning a home? Don’t allow a low credit score prevent you from applying. At American Financing, we can work with you to find an appropriate program to get you one step closer to homeownership. 

Finding the best mortgage lender can be quite a challenge. Make it easier for yourself and use these tips to narrow your search in finding the perfect mortgage lender. Finding the right lender will ensure a smoother mortgage process and help secure your financial future.

The benefits of owning a home instead of renting offer buyers several tax advantages, the ability to grow equity, and of course a place to call your own. And, the current real estate and mortgage market conditions have created the perfect opportunity to transition from writing a monthly rent check to investing in your own home. Check out these benefits of owning a home. See why it may be the best financial decision you can make.

First comes love, then comes mortgage? That’s right, many people (not just millennials) are foregoing weddings and marriage and are instead jumping into down payments and home loans. What’s right for you? Only you can answer that. But here are a couple things to consider before signing a mortgage.

American Financing wants you to navigate through the mortgage process with the utmost confidence. Whether buying a new home or refinancing an existing mortgage, make sure to ask your lender these 10 mortgage questions. Remember, asking the right questions is key to success!

Ever wonder about home inspections and why they're such a crucial part of the home purchase process? Research no more. Learn about home inspections, what to look for, and why they matter from the nation's most trusted mortgage banker, American Financing.

Conventional vs. FHA. VA vs. USDA. ARM vs. JUMBO. Getting a mortgage is often a daunting task for first-time homebuyers. With a multitude of different types of mortgages and lenders to choose from, it can be difficult to know which options best fit your needs. Fortunately, there is an abundance of information available to help homebuyers, including millennials, find the optimal mortgage.

American Financing today released its inaugural Mortgages in America Survey, an in-depth study examining mortgage, renting, and homeownership trends and preferences across the generations. According to the survey, 53% of Americans—including the majority of Millennials, Generation Xers, and Baby Boomers—prefer this down payment...

Your finances are in order, your ideal neighborhoods identified — next up is finding that perfect property, so you can make an offer.  As more and more people look to become homeowners, it’s important to prepare yourself for the mortgage process, home search, bidding wars, and what you’ll do next if you do not get the home of your dreams.